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How fuel type impacts Car Insurance Premium?

Fuel type - Petrol

Petrol is probably the most used fuel in passenger driven cars. In general, the cost of such cars and the cost of its repairs are either considered as a default or tend to be on the lower side.  

What does the premium actually look like?

Vehicle CC

Fixed third-party premium

Not exceeding 1000 cc

₹2,072

Exceeding 1000 cc but not exceeding 1500 cc

₹3,211

Exceeding 1500 cc

₹7,890

Fuel type - Diesel

The cost of diesel-powered cars are a bit higher than most petrol-powered cars. This directly has an impact on your car insurance premium, as the higher the total cost of your car, the higher is its premium.

Generally, it is 10% to 15% higher for your diesel car in comparison to a petrol car of the same make. (So, for example if a 2016 Hyundai i-20 model has an insurance premium of Rs. 9,061 for a petrol variant, the diesel variant, will be Rs. 10,973).

Similarly, the repair costs of diesel cars are also on the higher side which can also make your car insurance premiums go up.

This can be seen a lot in high-end cars (such as the BMW M5, the Audi Q7, and Mercedes-Benz E-Class) and in cars with expensive spare parts (like car transmissions and engine alternators). 

What does the premium actually look like?

Vehicle CC

Approximate third-party premium

Not exceeding 1000 cc

₹2,093

Exceeding 1000 cc but not exceeding 1500 cc

₹3,243

Exceeding 1500 cc

₹7,968

Fuel type - CNG

Fuel type - Electric

Like CNG vehicles, electric cars are also becoming more popular as they are cost-effective and better for the environment. Keeping this in mind, your insurance premium is generally lower.

Especially for third-party policies, electric vehicle premiums are cheaper than those for regular vehicles, premium rates are actually 15 per cent cheaper than that of regular fuel-based vehicles.  

What does the premium actually look like?

Vehicle kilowatt capacity (KW)

Premium rate for one-year third-party policy

Not exceeding 30 KW

₹1,761

Exceeding 30KW but not exceeding 65KW

₹2,738

Exceeding 65KW

₹6,707

Third-Party Car Insurance Premium Comparison for different Fuel Variants

For Hyundai Elite i20, Asta (1396 CC)

Petrol Variant

Diesel Variant

CNG Variant*

₹3,221

₹3,244

₹3,281

Disclaimer - The premium calculation is done for Hyundai Elite i20, Asta (1396 CC) purchased in 2019, from Bangalore with IDV between 4,71,000 - 5,69,200. The premium calculation is done in October 2020.

*CNG kit fitted to a Petrol car after purchase, costing ₹35,000

Comprehensive Car Insurance Premium Comparison for different Fuel Variants

For Hyundai Elite i20, Asta (1396 CC)

Petrol Variant

Diesel Variant

CNG Variant*

₹8,500

₹9,484

₹9,680

Disclaimer - The premium calculation is done for Hyundai Elite i20, Asta (1396 CC) purchased in 2019, from Bangalore with IDV between 4,71,000 - 5,69,200. Comprehensive insurance includes NCB - 20%, and no Add-ons. The premium calculation is done in October 2020.

*CNG kit fitted to a Petrol car after purchase, costing ₹35,000

So, what does all this mean for you?